Posted on 08/09/2020 4:18:14 AM PDT by GrandJediMasterYoda
Will You Get A Second Stimulus Check In Trump’s Executive Order?
Will President Donald Trump send you a second stimulus check by executive order?
Here’s what you need to know. Second Stimulus Checks
Trump signed executive orders today for a payroll tax cut, enhanced unemployment benefits, an eviction moratorium and student loan relief. Trump indicated all week that if Congress did not finalize a stimulus deal, he would take executive action to provide relief to the American people. One thing missing from today’s executive orders—second stimulus checks.
There is bipartisan support in Congress for a $1,200 stimulus check, and Trump supports a second round of stimulus checks too. Trump has even said second stimulus checks could be more than than $1,200. However, his executive orders do not include any checks.
(Excerpt) Read more at forbes.com ...
I didn’t want the first one and with .223 being pretty much unobtainium right now, why do I need more money?
He can’t spend the money to send checks to everyone by executive order. He can, however, do what he did by stopping the SS, Medicare tax from coming out of your paychecks. So, no checks under executive order.
I think it will come, but I think Trump will use it like a club.
This is the one last stimulus action. Everyone supports it. The Republicans will push it...but the Democrats will block it in an attempt to get their $ trillions in spending and vote fraud legislation. The people will rise up against the Democrats when they try it.
Personally I prefer the payroll tax cut FAR more than a check. The payroll tax cut would put around $400 more in my pocket every paycheck from now until it expires at the end of December, or close to $5,000 by year’s end. Of course the payroll tax is based on your income, so if you have little or no income it might end up being less than $1,200, but I’m just slightly under the $100k cutoff, so I’ll make out like a bandit.
Does that mean I get a credit on self employment taxes for 2020?
You know, the dems fawned all over Mohammed Ali, aka Cassius Clay. And yet, they never did catch on to Rope-a-Dope.
Never got the first one !
Yes, but that doesn’t help those who are not working, and there are still A LOT of people like that. Many people still cannot return to their jobs and we must continue to help them. Sorry about the deficit, but that is a huge, long standing problem and it will not be solved by driving American workers into penury.
EOs appropriating money not approved by Congress are unconstitutional, and one of the many grievances we had against Obama. He could claim it’s an emergency powers act EO, but that probably won’t wash.
But setting aside the constitutional considerations, this EO is a political masterstroke. Chuck and Nancy will have to sue to prevent its implementation, and this will put them in the awkward position right before an election of suing to prevent working people from getting money that they refused to vote for. They will be the party of fiddling while cities burn and families go hungry! Who are opposed to feeding those families! Trump will be the populist hero that they stopped being long ago, if they ever were, but still fancy themselves as. Shoe is on the other foot. I hope it pinches.
bmp
In our case we don’t want or need taxpayer money.
We want only one thing: ALBANY’S BOOT OFF OUR NECKS.
No check.
No check the first time either.
Make $160k+.
No payroll tax cut.
No mortgage.
No student loans.
What is in it for me?
Here, here. King Andrew needs to be run out on a rail
Call me stupid but I have no idea what a payroll tax is. Does this mean just paying employees gets taxed as well? So you mean you own your own business and you’ll make more by not having to pay this tax? I work in farming and business has been terrible this year and when they cut my hours I don’t get paid which is why I could have used this $1200
Its all a game of chicken
Another check and other benefits would have helped Trump’s reelection popularity, so he wants them.
Pelosi and Shumer were going to make him pay through the nose to get them, $3.4 trillion earmarked for the liberal wish list
Trump’s EO’s allow him to get credit for doing what he can for people without caving to congress and makes the Democrats the bad guys for opposing them
Now the Dems can compromise without giving Trump a big surge of popularity, since he will have claimed most of that surge of popularity through the EO’s
A deal is more likely now
Me neither.
if you are making too much you don’t get one, if you filed taxes later (July) you may not get it in time but it can be claimed as credit next year on taxes
The payroll tax is what is withheld from your pay for Social Security and Medicare, it is typically listed as OASDI or FICA on your paystub, and is 6.2% of your gross pay, your employer pays another 6.2% on your gross pay as well. So it can be a substantial chunk at higher incomes. I'm not sure if the executive order applies to both the employee and employer portion of the tax or just the employee side. But if you are self employed and it applies to both, it could save you an extra 12+% per pay check.
Thanks, wow that’s good news.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.